A Color Filter on Array (COA) substrate is formed by directly manufacturing a color film layer on an array substrate. Since there is not a problem of aligning a color film substrate with the array substrate in a display panel which adopts the COA substrate, it is possible to reduce the box-alignment difficulty in a process of manufacturing the display panel and avoid the error upon box-alignment. Therefore, the black matrix may be designed to be narrower, thereby improving the aperture ratio of a pixel.